[Market Focus] "SK Square, the Biggest Beneficiary of Hynix, Surges Over 3%"

SK Square is on the rise due to the sharp increase in the value of its SK hynix shares and growing expectations for shareholder returns.

As of 9:25 a.m. on January 29, SK Square was trading at 521,000 won, up 3.37% (17,000 won) from the previous trading day.

SK Square was previously criticized for its excessive dependence on SK hynix. However, improvements in SK hynix's performance and stock price, as well as expected synergies across the portfolio, are now being anticipated.

Choi Gwansoon, a researcher at SK Securities, stated in a report released on this day, "We maintain our buy rating on SK Square and raise our target price by 75.75% to 580,000 won," adding, "The target price reflects the increase in SK hynix's stock price, and SK Square, as the largest shareholder, stands to benefit the most from SK hynix's shareholder returns that have exceeded expectations."

Expectations for expanded shareholder returns are also high. Choi explained, "Since 2024, SK Square has shown a higher stock price growth rate than SK hynix," attributing this to "continued share buybacks and cancellations, as well as capital efficiency recognized by the market through portfolio advancement."